Indonesian Journal of Business Analytics (IJBA)
Vol. 4 No. 2 (2024): April 2024

Potential of Mutual Funds in Facing Changes in the Macroeconomic Situation

Rahmat Nurseha Tubagus (Universitas Terbuka)
Tri Gunarsih (Universitas Teknologi Yogyakarta)
Julia Safitri (Universitas Terbuka)



Article Info

Publish Date
04 Jun 2024

Abstract

In pandemic conditions, Indonesia's macroeconomic situation experienced very sharp changes. Inflation and BI 7 Day Repo Rate (BI7DRR) set record lows. Gross Domestic Product (GDP) has also experienced a decline, which last occurred during the economic crisis in 1998. This research was conducted to analyze the influence of inflation, BI7DRR and GDP on the Net Asset Value (NAV) of conventional and sharia mutual funds as well as the influence of mutual fund types on mutual fund NAV. Panel data regression was carried out on mutual fund NAV, inflation, BI7DRR and GDP data collected quarterly during the 2013-2022 period. Dummy variables are used in regression analysis to determine whether there is a significant difference between the NAV of islamic and conventional mutual funds. The estimation results using the random effect model show that inflation and BI7DRR are not proven to have a significant effect on the NAV of sharia and conventional mutual funds, while GDP is proven to have a positive and significant effect on the NAV of sharia and conventional mutual funds. It is also not proven that there is a significant difference in the NAV of sharia and conventional mutual funds, so it is stated that the type of mutual fund has no effect on the NAV of mutual funds.

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Journal Info

Abbrev

ijba

Publisher

Subject

Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

Description

Indonesian Journal of Business Analytics (IJBA) is a peer-reviewed journal providing a space for both practitioners and academics for disseminating research results that work in Business Analytics and related fields. IJBA provides an outlet for the increasing flow of interdisciplinary research ...